In 2017 a team of treasure hunters recovered a $4.5m bounty of gold coins in shallow waters off Florida. The treasure consisted of 350 gold coins, including nine rare "royal" eight escudo pieces. A Royal 8 escudos is a perfectly struck Spanish colonial gold coin, often produced with special dies for presentation, weighing 27 grams of 0.875 fine gold. These are high-quality "cob" coins featuring rounded flans, ornate crosses, and royal shields.
The coins contain 0.76 to 0.81 troy ounces of pure gold.
The "royal" is the pinnacle of Spanish colonial numismatics. The production of a Royal was a careful, thoughtful process. Few cob 8 escudo Royals were minted due to the time and resources it took to make them.
The find was made off the coast of Vero Beach, Florida in 3 feet of water. Bret Brisben, captain of the S/V Capitana and his crew found the treasure 15 feet from shore.
Brisben’s find comes a month after one of his subcontractors, Eric Schmitt, found 52 gold coins worth more than $1 million. Schmitt found the gold while diving about 150 feet off the coast of Fort Pierce in Florida during his yearly treasure-hunting trip with his wife, his sister and his parents.
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